GIC issue with CIBC

[singlarun]

Is anybody facing the similar issue with GIC from CIBC?

I have transferred the payment to SC bank India on 14th July and uploaded the UTR confirmation very next day at CIBC portal but after that I have no communication from the CIBC regarding my GIC certificate.

I have called and emailed them couple of times in last 1 week but their customer care executives also clueless why the payment hasn’t processed yet. Any suggestion or way forward to handle this unprecedented situation?

 

[Jabs80]

I too am in the same situation.

I have transferred funds on Monday and it has been debited from my account. However, they are still to be approved by CIBC.

I sent an email today and they replied immediately that 'we have not found the funds. It may be in transit and may take upto 4-5 business days'.

I checked with my bank too, and they have confirmed that the funds have been sent, so the issue must be with CIBC.

Hopefully, it will be resolved soon. And one of my friends told me that he saw on facebook that many others had the same problem too

 

[Kashif01]

thats strange my funds got transferred to CIBC in 10 Hours and received the GIC in 12 hours. I sent the money in the start of May when the covid was at peak.

 

[Jabs80]

This is some glitch, I guess. It's a recent problem unrelated to covid, I guess

 

[jigzyy]

Are you sure that Bank followed instructions AS IS as per CIBC instructions sheet? Address on the CIBC student portal and address on the bank account and Student name matches the record? If all is correct, it'll be updated soon. Just check online student portal of CIBC.

 

[singlarun]

Are you sure that Bank followed instructions AS IS as per CIBC instructions sheet? Address on the CIBC student portal and address on the bank account and Student name matches the record? If all is correct, it'll be updated soon. Just check online student portal of CIBC.

Everything was perfectly aligned as per the CIBC's instructions but they have rejected my application on 23rd July and refunded the funds and good part is that despite of 2 reminders in last 3 days they didn't disclose the reason for payment rejection and asked me to re-initiate the new transaction. Their service and ethics poorer than the SBI though, no transparency at all. Regretting my decision to choose them for GIC.

 

[jigzyy]

What about the Source account? Was it in your name or your parents/sponsor?

 

[singlarun]

That is a study loan account and its on my name only.

 

[jigzyy]

Okay. What I could suggest is to try again.. Did you send in INR or USD? Make sure that the amount is exact.. Few cents or a dollar above is okay. In CIBC portal, re-enter all the details, get the FX rate and download instructions and try again. Make sure your bank enters Your address as per you entered in CIBC online portal. Make sure that the name matches between your Passport, CIBC and bank loan account. Once the wire initiates again, get the confirmation receipt and upload it to Portal. Also double make sure that you initiate wire transfer before CIBC time period expires.

 

[atif ali]

Anyone from Pakistan here? Guide me please how and which bank in Pakistan do wire transfer to CIBC for GIC.

 

[Em@1997]

I too am in the same situation.

I have transferred funds on Monday and it has been debited from my account. However, they are still to be approved by CIBC.

I sent an email today and they replied immediately that 'we have not found the funds. It may be in transit and may take upto 4-5 business days'.

I checked with my bank too, and they have confirmed that the funds have been sent, so the issue must be with CIBC.

Hopefully, it will be resolved soon. And one of my friends told me that he saw on facebook that many others had the same problem too

Currently I am in the same situation could you please guide me how you resolved it

 

[Em@1997]

Everything was perfectly aligned as per the CIBC's instructions but they have rejected my application on 23rd July and refunded the funds and good part is that despite of 2 reminders in last 3 days they didn't disclose the reason for payment rejection and asked me to re-initiate the new transaction. Their service and ethics poorer than the SBI though, no transparency at all. Regretting my decision to choose them for GIC.

I am also facing the same issue can you please guide me on the same as their customer care executive are clueless what to do

 

[Fields4]

Currently I am in the same situation could you please guide me how you resolved it

If you did the wire transfer from other country it usually takes 4-5 business days excluding the holidays as it goes through from your bank to third bank and then to the destination bank depends on how your bank sent the funds. I would suggest you call the telephone banking at 1-855-236-4272. Hope this helps.

 

[Em@1997]

If you did the wire transfer from other country it usually takes 4-5 business days excluding the holidays as it goes through from your bank to third bank and then to the destination bank depends on how your bank sent the funds. I would suggest you call the telephone banking at 1-855-236-4272. Hope this helps.

Actually it's been already 2 weeks since I made the payment and cibc is still stating that payment can not be found

 

[Anna Abraham]

Is anybody facing the similar issue with GIC from CIBC?

I have transferred the payment to SC bank India on 14th July and uploaded the UTR confirmation very next day at CIBC portal but after that I have no communication from the CIBC regarding my GIC certificate.

I have called and emailed them couple of times in last 1 week but their customer care executives also clueless why the payment hasn’t processed yet. Any suggestion or way forward to handle this unprecedented situation?

Has this issue been solved?